Whether this is your first home (congratulations!) or the next property of your dreams, we know for a fact that you have numerous selection criteria in mind. Actually, have you ever wondered if your checklist was too long? Because if it is then you will be slowed down. This could mean you miss on the perfect opportunity too!
In order to simplify and accelerate the selection process, we have key questions for you. It is paramount you discuss them with your partner and your family as only you can answer them – they are applicable for short term and long term acquisitions, here we go!
1/ What matters the most? The investment potential or the quality of the location?
Really what matters first is the term of your investment, short or long? Primarily because the short term investment is just another step towards your long term project really. For the latter, the location is often the main selection criteria. Of course, if you think that return on investment is more important to you and your closed ones then this might not be the case, as you can see, it is a very personal decision.
2/ How much time can you spend in commute?
Another key question as a nice home in the north of Paris, say Chantilly, will take you much longer than the western suburbs of Paris. These areas are well connected with public transportation networks. This will show in the property price of course. Similarly, when leaving outside of major cities, would you consider walking 15 minutes to get to the train station? Or is it ok that drive there and in which case what is the maximum transit time you can afford? There could be car sharing hubs nearby too, these are quite popular as they are cheaper than public transports, more flexible and probably more pleasant.
3/ Are you willing to carry out any DIY yourself?
Think carefully about it, after a long day in the office, possibly one hour spent in commute time, are you sure that you will be able to pick some brushes and start painting a wall in the bedroom? It is not the type of work you can perform here and then, this is a task for week-ends really. Especially if you’d rather sit down in your couch after work and watch your favorite series on Netflix. Problem is that week-ends are most appropriate for other activities too so think carefully and again it really depends on what you prefer doing.